Mahindra & Mahindra Financial Services Limited has informed the Exchange that Board of Directors at their meeting held on May 08, 2025, has inter-alia approved Rights issue price, record date, Rights entitlement ratio and other terms of Rights Issue as per the details enclosed.
M&MFIN · price
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Mahindra & Mahindra Financial Services Limited (M&MFIN) has finalised the terms of its Rights Issue of up to Rs. 2,996.16 crore, as approved by the Board on May 8, 2025. The company will issue 15,44,41,240 fully paid-up equity shares of Rs. 2 face value at a price of Rs. 194 per share (including a premium of Rs. 192). The rights entitlement ratio is set at 1 rights share for every 8 shares held, with Wednesday, May 14, 2025 fixed as the record date to determine eligible shareholders. The issue opens on May 22, 2025 and closes on June 6, 2025. Post-issue, total equity shares will rise from 123.55 crore to 138.99 crore assuming full subscription. This is a follow-through to the Board's earlier approval on May 2, 2025, after in-principle approvals from BSE and NSE were received on May 6, 2025.
Shareholders who hold M&MFIN shares as of the record date (May 14, 2025) will be eligible to receive rights entitlements. If shareholders do not apply or renounce, their entitlements will lapse, effectively diluting their stake. The 1:8 ratio is moderate, but shareholders need to arrange about Rs. 1,552 for every 8 shares held if they wish to fully subscribe.